Globe Fintech Innovations Inc. (Mynt), the operator of GCash, said transactions surged 700 percent in May from a year ago as demand for digital finance soared amid the global health situation.
Bank cash-in, which includes Instapay and online payments to Google, Apple, Lazada and other merchants, jumped by 700 percent in May compared to the same period last year.
“The pandemic has forced all of us to adopt digital solutions such as GCash to protect us from contracting the virus. The steady uptrend on transactions using GCash shows that Filipinos are now being more dependent on digital solutions and they prefer to use the GCash platform to pay for these services,” said Martha Sazon, GCash president and chief executive.
“GCash is empowering Filipinos to do more with less through our best-in-class platform. Through GCash, we are helping stir up economic activity by bringing merchants and consumers closer, at least digitally,” Sazon said.